Bitcoin rises as softer PCE data cuts October Fed rate hike odds
Image: CoinGapeAugust PCE inflation data came in below market forecasts. Goldman Sachs pushed its second Fed rate hike forecast to December, noting an October hike is now unlikely. Bitcoin briefly reached $85,598 on September 30 as market odds of an October Fed rate hike fell from above 70% to roughly 37%. Spot Bitcoin ETFs recorded a $2.8 billion inflow in a single reported week.
Key points
- August PCE inflation data came in below market forecasts
- New York Fed President John Williams' dovish comments reduced near-term rate hike odds
Why it matters
Softer inflation and reduced rate hike odds lifted Bitcoin and broader crypto markets, while spot Bitcoin ETFs saw sustained inflows even with Treasury yields above 5.2%.
What's unclear
Exact September 30 Polymarket odds for an October Fed rate hike differ between reports: 32% vs 37%
Price context · BTC
At publication
$83,703.00
Now
$83,695.00
Change since
−0.01%
7 days · dashed line = publication
Sources · 2 publishers
Crypto Briefing
Tier 2
Bitcoin gains as rate hike expectations ease after soft PCE data
Coverage timeline
- First reported by CoinGape
- Confirmed by Crypto Briefing
- CryptoVideos brief published
How this brief was made. Our system found this event in 2 independent publications, summarised two complete reports with AI and checked every number above against the source text. Sources are linked in full. Not financial advice. Report an error
